‘En­gine for world eco­nomic growth’

The Star Early Edition - - INTERNATIONAL - Xin­hua

CHI­NESE Pres­i­dent Xi Jin­ping ex­pressed the hope that the Group of 20 ma­jor economies (G20) will con­tinue their part­ner­ship of win-win co-op­er­a­tion, sup­port for mul­ti­lat­eral free trade and lead­er­ship in in­no­va­tion-driven growth.

Xi made the state­ment in an in­ter­view with Rus­sian me­dia be­fore his de­par­ture for the July 3 – 4 state visit to Russia.

The Chi­nese pres­i­dent said it is sig­nif­i­cant for the G20 to work as a ma­jor in­ter­na­tional eco­nomic co-op­er­a­tion fo­rum, to re­alise con­sen­suses reached at G20 sum­mits and to ori­ent global growth, as tough chal­lenges re­main de­spite strength­en­ing of the mo­men­tum in global growth and im­prove­ment of the eco­nomic sit­u­a­tion in both de­vel­oped and de­vel­op­ing coun­tries.

Ex­press­ing ex­pec­ta­tions for the G20 Ham­burg sum­mit sched­uled for July 7 – 8 in Ger­many, Xi said he hopes that the sum­mit will prompt the group to con­tinue its part­ner­ship of win-win co-op­er­a­tion, which helped it tide over the in­ter­na­tional fi­nan­cial cri­sis.

“As long as we can in­clude and tol­er­ate one an­other, and of­fer timely help to one an­other, we will be able to stead­fastly keep forg­ing ahead and reach the other shore all to­gether, re­gard­less of whether it is sunny or rainy,” Xi said.

As a driv­ing force for the global econ­omy, the G20 should ad­here to open devel­op­ment, sup­port the mul­ti­lat­eral trade sys­tem with the World Trade Or­gan­i­sa­tion at the core and prompt trade and in­vest­ment to con­tinue play­ing the role as an en­gine for the world eco­nomic growth, Xi said.

G20 lead­ers

The Chi­nese pres­i­dent be­lieves the G20 should con­tinue lead­ing the devel­op­ment route of in­no­va­tion-driven growth and longterm gov­er­nance.

Coun­tries need to con­tinue tap­ping the new driv­ing force for global eco­nomic growth by means of in­no­va­tion, pro­mote devel­op­ment of the dig­i­tal econ­omy and the in­dus­trial rev­o­lu­tion, in­crease in­vest­ment in in­fras­truc­ture, and make a com­pre­hen­sive use of fi­nan­cial poli­cies, mon­e­tary poli­cies and struc­tural re­form to prompt the global econ­omy to re­alise ro­bust, sus­tain­able, bal­anced and in­clu­sive growth, Xi said.

Xi said the agenda of the Belt and Road Fo­rum for In­ter­na­tional Co-op­er­a­tion held in May in Bei­jing is highly con­sis­tent with the G20 Ham­burg sum­mit’s theme of “Shap­ing an In­ter­con­nected World.”

“The Belt and Road Ini­tia­tive and co-op­er­a­tion within the frame­work of the G20 can com­ple­ment and boost each other, so as to work to­gether to pro­mote global growth,” Xi said.

China is will­ing to work with all other par­ties at the Ham­burg sum­mit in or­der to con­trib­ute more to global growth and global eco­nomic gov­er­nance, Xi said.

Pro­posed by Xi in 2013, the Belt and Road Ini­tia­tive aims to build trade and in­fras­truc­ture net­works con­nect­ing Asia with Europe and Africa on and be­yond the an­cient Silk Road routes. It com­prises the Silk Road Eco­nomic Belt and the 21st Cen­tury Mar­itime Silk Road.

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